CMS ENERGY CORP

For the period ended Mar 31, 2026. Filed Apr 28, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed Apr 28, 2026

CMS$69.78+0.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets (Unaudited)

ASSETS
In Millions
	March 312026	December 312025
Current Assets
Cash and cash equivalents	$9	$25
Restricted cash and cash equivalents	68	86
Accounts receivable and accrued revenue, less allowance of $32 in 2026 and $27 in 2025	1,216	1,210
Accounts and notes receivable – related parties	10	15
Inventories at average cost
Gas in underground storage	257	427
Materials and supplies	329	316
Generating plant fuel stock	45	31
Deferred property taxes	385	479
Regulatory assets	94	104
Prepayments and other current assets	184	132
Total current assets	2,597	2,825
Plant, Property, and Equipment
Plant, property, and equipment, gross	36,656	36,120
Less accumulated depreciation and amortization	10,078	9,842
Plant, property, and equipment, net	26,578	26,278
Construction work in progress	2,820	2,354
Total plant, property, and equipment	29,398	28,632
Other Non-current Assets
Regulatory assets	3,298	3,355
Accounts receivable	24	24
Accounts and notes receivable – related parties	87	88
Postretirement benefits	1,866	1,821
Other	292	346
Total other non-current assets	5,567	5,634
Total Assets	$37,562	$37,091

LIABILITIES AND EQUITY
In Millions
	March 312026	December 312025
Current Liabilities
Current portion of long-term debt and finance leases	$580	$579
Notes payable – related parties	517	340
Accounts payable	1,081	1,229
Accounts payable – related parties	16	14
Accrued rate refunds	—	28
Accrued interest	141	149
Accrued taxes	582	747
Regulatory liabilities	87	85
Other current liabilities	146	163
Total current liabilities	3,150	3,334
Non-current Liabilities
Long-term debt	11,480	11,524
Long-term debt – related parties	1,005	1,005
Non-current portion of finance leases	179	81
Regulatory liabilities	4,154	4,091
Postretirement benefits	69	70
AROs	757	753
Deferred investment tax credit	117	118
Deferred income taxes	3,276	3,201
Other non-current liabilities	359	336
Total non-current liabilities	21,396	21,179
Commitments and Contingencies (Notes 2, 3, and 8)
Equity
Common stockholder’s equity
Common stock, authorized 125.0 shares; outstanding 84.1 shares in both periods	841	841
Other paid-in capital	9,494	9,094
Accumulated other comprehensive loss	(13)	(13)
Retained earnings	2,657	2,619
Total common stockholder’s equity	12,979	12,541
Cumulative preferred stock, $4.50 series, authorized 7.5 shares; outstanding 0.4 shares in both periods	37	37
Total equity	13,016	12,578
Total Liabilities and Equity	$37,562	$37,091

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.